Funko Inc

Target has named Chandhu Nair its first-ever chief AI officer and senior vice president, joining from Lowe's where he was senior vice president of stores, data, AI and innovation. Nair will coordinate AI adoption across merchandising, operations, and inventory management, while Target also promoted Purvi Shah to senior vice president of user experience to integrate AI technology with customer design. In other moves, Kontoor Brands promoted Joseph Alkire to president and chief financial officer with global responsibility for Helly Hansen and Wrangler brands, and Canada Goose appointed Massimo Piombini to its board of directors. Sanrio promoted Jill Koch as chief brand officer for the U.S. and the Americas, Funko named Kristin Hamilton as chief commercial officer effective Aug. 24, and Epicor announced Vaibhav Vohra will become chief executive officer effective Oct. 1, succeeding Steve Murphy.

Funko raised its full-year adjusted EBITDA guidance to a range of $100 million to $110 million, citing a $25 million tariff credit recognized in the second quarter and $5 million from improved profitability. The company reiterated its net sales guidance of flat to up 3% for the year. Second-quarter gross margin reached 56.6%, or a record 44.4% excluding the tariff credit, while adjusted EBITDA swung to $40.9 million from a negative $16.5 million a year earlier. CEO Josh Simon highlighted new product platforms such as POP! Mystery and a partnership with HP on additive manufacturing, while CFO Yves Le Pendeven noted that the company factored in tariffs of 10% to 12% but warned that surprises could still occur.

Alliance Authentic, part of Alliance Entertainment, will host its first-ever in-person pop-up at the Hard Rock Hotel during San Diego Comic-Con from July 23 to 26. The pop-up will feature preserved vinyl records from artists including Olivia Rodrigo, Harry Styles, and Charli XCX, along with collectible figures from Funko and Handmade by Robots. At the Star Wars Pavilion inside the convention center, the company will offer Japanese-exclusive vinyl editions of the original trilogy soundtracks, with A New Hope limited to 10 copies, The Empire Strikes Back limited to 20, and Return of the Jedi limited to 20, plus The Mandalorian and Grogu soundtrack limited to 30 copies and Handmade by Robots figures of Stormtrooper and R2-D2. Comic-Con badge holders can claim and register a Handmade by Robots figure on-site, and all guests can enter to win a preserved piece.

Mattel reported first-quarter revenues of $862.2 million, up 4.3% year on year and exceeding analysts' expectations by 6.6%, the biggest beat among four tracked consumer discretionary toys and electronics stocks. The company also raised its full-year EPS guidance above estimates and posted a decent beat on adjusted operating income. Despite the strong results, Mattel shares have fallen 6.6% since the report, trading at $13.90. Among peers, Hasbro delivered the fastest revenue growth at $1 billion, up 12.7%, but its stock dropped 13.4%, while Funko shares surged 21.7% after beating estimates and raising guidance. Bark was the weakest performer, with revenues down 25% to $86.57 million, missing estimates and issuing disappointing guidance.